About Closing Costs
"Closing Costs" are the fees which pay for various services involved in the sale of residential real estate. Buyers and sellers almost always negotiate these costs.
As you'll see below, many of the costs result from getting your mortgage loan. Since Sky Apply Mortgage, Inc has extensive experience with closings and mortgages, we can help you understand your closing costs.
Loan Estimate (LE)
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs enumerated in the LE are estimated based on Sky Apply Mortgage, Inc's experience with mortgage loans, but costs usually change by small amounts between the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that sometimes vary a little bit at closing.
Below is a fairly general list of closing costs. We will always provide a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs
Loan-Related Costs
- Up-front Interest Payment
- Escrow Fees
- Taxes
- Loan Origination Fee
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Fee
- Pulling YourCredit Report
Property Taxes
- Recording Fees and Transfer Taxes
- Insurance
Homeowners Insurance
- Title Insurance
- Flood / Earthquake Insurance if applicable
- Private Mortgage Insurance (PMI)
Sky Apply Mortgage, Inc can help you understand closing costs. Give us a call: 8132007931.